Info-based assessments will help reduce harassment of taxpayers: PC Mody, CBDT chairman
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The provision, announced in the budget for 2021-22 on Monday, along with limiting the time to three years from six years for opening cases for re-assessment, will provide tax certainty to assessees, Mody said in a post-Budget interview.
CBDT chairman PC Mody
Assessing officers will be able to begin inquiry based on third party information from audit or agencies, rather than anonymous information, which will reduce harassment of taxpayers and lead to reduced litigation, Central Board of Direct Taxes (CBDT) chairman PC Mody told ET.